In May 2025, a bill titled the Modern Emoluments and Malfeasance Enforcement Act, or MEME Act, was introduced in the U.S. Congress. The aim of this bill is to prohibit federal officials, including the president, vice president, members of Congress, and their immediate relatives, from issuing, promoting, or profiting from digital assets such as cryptocurrencies, meme coins, and stablecoins.
Key provisions of the MEME Act:
Prohibition on participation in crypto assets: Federal officials and their families are banned from issuing, promoting, or profiting from digital assets, including meme coins and stablecoins.
Liability for violations: The bill provides for criminal and civil liability for violations of these provisions, including the confiscation of illegally obtained profits.
The initiative arose against the backdrop of criticism directed at former President Donald Trump and his family for their involvement in cryptocurrency projects such as the meme coin $TRUMP and the stablecoin World Liberty Financial. These projects raised concerns about potential conflicts of interest and the use of public office for personal gain.
Although the likelihood of the MEME Act passing in the current Congress is low, the bill symbolizes a commitment to strengthening ethical standards and preventing corruption among high-ranking officials.
If you want to review the full text of the bill, it is available on the official U.S. Congress website: H.R.1712 - MEME Act.